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Nanningbob 4H trading system

  • #61
  • May 18, 2009 6:52pm May 18, 2009 6:52pm
Quoting nanningbob
My Monday pre USA open picks
chf/jpy +100 took profit at BB middle--looked like a possible whiplash but did not happen. I put a sell EA on for the whip lash, it did not enter. Trade did not whip lash so all EAs were removed.
Eur/chf just entered
Gbp/chf just entered
USD/CAD nice run but it hit my TS at +77
USD/SGD closed at +50 bottom of BB

Total for 2nd round trades +224
Total all day = 1172
GOD I broke the 1000 pip barrier for one day EGADS. That is scary. Yes I could have let some run longer and placed some of my TS and SL tight but WOW, YAHOO,...
I think I picked the worst day to start. Seeing as how its like one of the top days for this system. ahahahah. sighhhh

edit: It is just demo bob and sadly they are all 0.01 lots so I can't close half off... I got my stops to BE + half open profits so no worries there. Just demoing the system for now though so no big rush for me haha.
  • #62
  • May 18, 2009 7:01pm May 18, 2009 7:01pm
I was going to edit my other post asking this but I've noticed that the EA enters before the arrows paint sometimes... it appears that the EA doesn't use the close of the bar but the cross?

Just wondering.. you said your gbpchf just entered but mine entered yesterday when I threw it on seeing we were overbought. It has since reentered at -150.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 29 KB
  • #63
  • May 18, 2009 7:06pm May 18, 2009 7:06pm
Quoting nanningbob
I recommended the following using my system this morning.
NZD/JPY up 87 pips put my stop loss at 50 so guaranteed winner
gbp/nzd was up 100 but now break even. I wasnt home to put my safeties in.
eur/gbp has not entered yet, went on a run the wrong way but the EA kept me out.
eur/nzd-closed 2/3 of this trade for +60 and will ride 1/3 SL at 45 so guaranteed winner
aud/jpy up 112pips put my SL at 90 so guaranteed winner
USD/JPY up 85 SL at 50 so guaranteed winner.
Do u have a SL when it enter the trade ? Where did u put the SL ?
  • #64
  • May 18, 2009 7:22pm May 18, 2009 7:22pm
Quoting forexisfx
Do u have a SL when it enter the trade ? Where did u put the SL ?

The EA has a 1000 pip SL but if you change it, put the S&R on your screen and put the SL on the other side of a S&R line. The EA will do a reenter every 150 or 200 pips depending on which one your doing if price moves against you. I rarely do stop losses I close my trades manually if I dont like one. I will let a bad trade hit a R/S line and enter a countertrade and get the loss back to as close as zero as possible. You can only do this if you dont overmargin your account. If you play too high of lots to the amount of money you have in your account you need short SL. For instance if a trade goes 1000 pips against me it is about 5-10% of my account. The only way it will get that bad is if I am playing a major news story. Since I dont try to trade the big news stories I havent had that problem for almost 6 months now. If you use the EA you may put the trailing stop at 30 -50 pips so when the EA enters it brings you up to break even after price moves 30-50 pips. Then turn the EA off and manage your trade. I wait for the EA to enter and then I manage my trade manually. When you manage your trade then you put your SL, TS, etc. in based on which pair it is.
  • #65
  • May 18, 2009 7:31pm May 18, 2009 7:31pm
Quoting Verto
I was going to edit my other post asking this but I've noticed that the EA enters before the arrows paint sometimes... it appears that the EA doesn't use the close of the bar but the cross?

Just wondering.. you said your gbpchf just entered but mine entered yesterday when I threw it on seeing we were overbought. It has since reentered at -150.
OK dont know what to say, The warning system I believe waits for the close of the bar to warn so that may happen. Did not realize that until now. I know the EA does not. This is how I would handle that trade to keep you from whiplash. If price has brought your trade to around break even close all of them and restart or close the losing one and bring your SL so if it whip lashes you still are close to break even. You are at a better location for the trade and back to level one. I do this often and I stay out of trouble that way. So that is how I would handle it. I dont use my own warning system, I go by the lines and turn the EA on and let it handle it. I am not home all day so it does me little good.

I may have to change the warning system.
  • #66
  • May 18, 2009 7:37pm May 18, 2009 7:37pm
Quoting nanningbob
OK dont know what to say, The warning system I believe waits for the close of the bar to warn so that may happen. Did not realize that until now. I know the EA does not. This is how I would handle that trade to keep you from whiplash. If price has brought your trade to around break even close all of them and restart. You are at a better location for the trade and back to level one. I do this often and I stay out of trouble that way. So that is how I would handle it.

I may have to change the warning system.
It is demo so I'm not worried. If price moves back to my level 1 I was just going to close that one out but leave the other trade running at +20 or something, no worries. I think it is better for the Arrows to paint on a close of the bar, to keep it from repainting.. within a 4hr candle if the ma cross doesn't wait for close it could repaint a ton of times. The thing is the EA just gets you in earlier.. or in the case of this trade at a bad time because it doesn't wait for the close.
  • #67
  • May 18, 2009 8:53pm May 18, 2009 8:53pm
I'm up $21 trading .02 lots for the first day. Looking good!
  • #68
  • May 19, 2009 12:05am May 19, 2009 12:05am
As I remarked in the e-mail I sent your system has raised my trading to a higher level and although I use your 4 hour system EA it also gives me the courage to enter manually whenever the blue and white stochastic are in the overbought or oversold area. As a result I have made a good number of pips. Thanks for your system.
  • #69
  • May 19, 2009 1:36am May 19, 2009 1:36am
Quoting loucam
As I remarked in the e-mail I sent your system has raised my trading to a higher level and although I use your 4 hour system EA it also gives me the courage to enter manually whenever the blue and white stochastic are in the overbought or oversold area. As a result I have made a good number of pips. Thanks for your system.
i know what you mean im using it as a confirmation of PA and S+R setups, also using the EA aswell...

ive also manipulated the EA to take daily signals off a 2ma cross... some of the daily signals can be quite strong.
Grabbing the bull by the horns!
  • #70
  • Edited 3:21am May 19, 2009 2:42am | Edited 3:21am
Also I am using more and more the S/R indicator and putting my second position manually off of them instead of using the fixed pip number that the EA uses. Get better second position entrances. Hey I can load pics again.

Here is an Aud/Cad with support and resistance lines.If you use the EA as price bounces off it will enter. If it breaks through it does not. You can also put a sell in right at those lines and put a SL above the line for a more traditional trade scenario.
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad s&r.gif Size: 21 KB
  • #71
  • May 19, 2009 3:10am May 19, 2009 3:10am
Quoting nanningbob
Also I am using more and more the S/R indicator and putting my second position manually off of them instead of using the fixed pip number that the EA uses. Get better second position entrances. Hey I can load pics again.

Here is an Aud/Cad with support and resistance lines.If you use the EA as price bounces off it will enter. If it breaks through it does not. You can also put a sell in right at those lines and put a SL above the line for a more traditional trade scenario.
mhmm fractals are very strong sometimes and make for good s/r at times.
  • #72
  • May 19, 2009 3:29am May 19, 2009 3:29am
Now you know why I hate traditional trading tactics. Price went up to exactly my SL and started to come back down again. I havent done a traditional trade like that in probably a year and got the same results I have always gotten. Spike and knockout. Lost about 30 pips. I sometimes think the computer programs are designed to do that. Here is the 1 hour chart showing the spike that knocked me out.
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad s&r 2.gif Size: 22 KB
  • #73
  • May 19, 2009 6:53am May 19, 2009 6:53am
A possible variation of the trend continuation trade. Bob has advised that white line should be OB or OS, with red between white and blue. I've noticed that any time white gets 40-50 points away from blue (regardless of where red is and white doesn't have to be OB or OS) it looks like a good time to turn the EA on to catch the snap back.
  • #74
  • May 19, 2009 9:46am May 19, 2009 9:46am
3 primary trades have come up EUR/CHF, GBP/CHF, GBP/USD

Good luck.
  • #75
  • May 19, 2009 3:58pm May 19, 2009 3:58pm
hey Bob thanks for the killer system

what do you think about GBPJPY right now. it looks like it could drop...
change the future, not the past
  • #76
  • May 19, 2009 4:52pm May 19, 2009 4:52pm
Quoting 137
hey Bob thanks for the killer system

what do you think about GBPJPY right now. it looks like it could drop...
According to this system the GBPUSD is the much much much better trade if you are looking for gbp weakness.
  • #77
  • May 19, 2009 4:54pm May 19, 2009 4:54pm
Quoting 137
hey Bob thanks for the killer system

what do you think about GBPJPY right now. it looks like it could drop...
I shorted as soon as I saw the double top on the 4 hour, and the EA ahs entered a trade too. See how it goes.
  • #78
  • May 19, 2009 5:40pm May 19, 2009 5:40pm
We didnt get anything on the secondary trades yesterday. Only a couple of them entered and some have just entered as second level trades. Except for the Aud/NZD which is at a double top, none are in any serious trouble. If it breaks the double top I will have to take a loss on that one. The Eur/Cad also entered but I closed that one at a -33 loss because its signal is now lost and the lines are all in never, never land. So I closed that one out. So this is what I see for starting at the JPY session and I like what I see. Lots of choices for trades.
Primary trades:
aud/cad aud/chf almost primary aud/usd aud/jpy eur/aud
eur/chf eur/gbp
gbp/chf gbp/usd

secondary but watch very closely, dont hang in them if a S/R is broken
chf/jpy eur/jpy eur/nzd eur/usd
gbp/jpy nzd/chf nzd/jpy nzd/usd usd/cad usd/jpy

most of these currencies the white is crossing the red but the blue has not moved much. They maybe good trades because of the double top or double bottom from 1-2 weeks ago. If they break the double top or bottom I would not stay with them.
  • #79
  • May 19, 2009 5:50pm May 19, 2009 5:50pm
Quoting 137
hey Bob thanks for the killer system

what do you think about GBPJPY right now. it looks like it could drop...
The gbp/jpy, the 3 NZD, eur/nzd, eur/jpy, chf/jpy, and aud/nzd are all giving approximately the same signal. They may or maynot be a good trade. What you want to watch out for is the whiplash trade. They are all at that stage. I play them tight because they all can whiplash or take off for a nice run. The difficulty will be if they hit or get close to the 20MA line of the BB. that is where they could swing and become a trend continuation trade. That spot is showing to be a strong Support line if you put the S/R indicator on. So all of those currencies could bog down there or break through or bounce back up. That is one where I will take 1/2 profit, bring in a break even SL and let the rest ride and see if you get that breakthrough. I put a big gold line through all those S/R places.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy s-r.gif Size: 25 KB
  • #80
  • May 19, 2009 8:03pm May 19, 2009 8:03pm
If you look at the Pic gbp/jpy above what usually happens is this is a retracement in an uptrend. The red line is angling up and white is coming down and blue is undecided at this point. You probably will not get a big move out of it but something over 100 pips is most likely then it will go into ranging mode or uptrend continuation. If you look at the last 4 weeks of action this area is a range area.
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